A company affiliated with The Breakers Palm Beach has made another real estate investment on Royal Poinciana Way, the town’s historic Main Street, where a major revitalization has taken root over the past five years.

The limited liability company, 235 RPW LLC, paid a recorded $12 million for a pair of adjacent buildings with retail and residential apartments addressed as 233-235 Royal Poinciana Way.

The deal brings to six the number of real estate purchases that companies affiliated with the landmark Palm Beach resort have made since 2010 on the north side of the street between Bradley Place and North County Road.

Those transactions have totaled about $67.5 million, courthouse records show.

The Breakers’ parent company also owns land — part of its golf course — that runs along the other side of the street.

More: The Breakers: Oceanfront resort in Palm Beach celebrates its 125th anniversary

Affiliates of The Breakers now own majority of properties on Palm Beach street

With the exception of three properties, companies affiliated with The Breakers now own all of the commercial space — and a number of apartments — on the street.

The two-story buildings that just changed hands have two ground-floor storefronts and at least eight residential units. The buildings stand immediately east of the former PNC Bank building that another Breakers affiliate bought about a year ago for a recorded $9.35 million.

Immediately east of the just-sold buildings is the much-newer Via Flagler by The Breakers mixed-use development, where the resort owns the ground floor retail-and-restaurant space below six privately owned condominiums on the second floor.

The retail tenants in the property that just changed hands include Dr. Herbert Simkin’s Eyes on the Island optometry practice and eyeware boutique and Gentleman’s Corner, a men’s apparel shop.

Combined, the two buildings have 6,566 total square feet, property records show. Based on that measurement, the price worked out to $1,827 a square foot.

Same family had owned just-sold Palm Beach property since 1982

The deed recorded Monday shows 235 RPW LLC, a Florida limited liability company, bought the two buildings from Dr. Sundarapmillai Jeyanandarajan, who acted as trustee of the Maha Ganapathy Trust of Pismo Beach, California.

Built in 1945, the buildings were purchased in 1982 for $625,000 by the Jeyanandarajan family but had undergone several internal ownership transfers over the years, property records show. Representatives of the Jeyanandarajan family, who have longtime ties to California, did not immediately respond to an email seeking comment.

The property that just sold is about a mile from The Breakers’ historic oceanfront hotel, which is run by Paul Leone, CEO of Flagler System Inc. and The Breakers. Leone told the Palm Beach Daily News in an April 2 email that 235 RPW LLC is a wholly owned entity of Flagler System Management Inc., a subsidiary of Flagler System Inc. and sister company to The Breakers.

Leone said there are no near-term development plans for the property. The new owner will honor the existing commercial and residential leases, and if the commercial tenants don't renew, the storefronts would be leased to other so-called “town serving” businesses.

He also mentioned that the new purchase adds to the company’s real estate portfolio in Palm Beach.

“Our commitment to investing in Royal Poinciana Way reflects the enduring dedication of our family ownership,” Leone wrote, referencing the Kenan family, who owns the resort.

He added: “Their long-term vision and desire to enrich the community is fundamental to our organization’s business strategy and success.”

The North Carolina-based Kenan family is directly related to Mary Lily Kenan Flagler Bingham, the widow of railroad-and-hotel tycoon Henry Flagler, who in the late 19th century transformed Palm Beach into the country’s premier winter resort town for the society set of the so-called Gilded Age.

The Breakers, which was originally developed by Henry Flagler, celebrated its 128th birthday this year.

Commercial broker Josh Wade, managing principal of Flagship Partners in Delray Beach, represented the seller and was the only broker involved in the transaction, he told the Palm Beach Daily News.

What other properties are owned on Royal Poinciana Way by affiliates of The Breakers?

The former PNC Bank building at 245 Royal Poinciana Way is the home of Free-est, a dedicated collection of summer and beach-inspired apparel within the Free People brand. The store opened in February.

In January, Flagler System Management paid a recorded $11.5 million for a mixed-use property in the middle of the block at Nos. 249, 251 and 253 Royal Poinciana Way.

At the time of the January purchase, Leone wrote in an email that the purchase “continues our mission to revitalize Royal Poinciana Way and the surrounding neighborhood.”

Other properties on the street owned by entities affiliated with The Breakers include the landmarked Bradley Park Building with offices and storefronts at Nos. 277, 279, 281 and 283; No. 245; and an office building at No. 265 that at one time had been home to the Palm Beach Daily News.

Business records show the entity that just bought 233-235 Royal Poinciana Way is managed by attorney H. William Perry, CEO and managing shareholder at the Gunster law firm in West Palm Beach. He did not respond to a request for comment.

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This is a developing story. Check back for any updates.

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Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call (561) 820-3831 or tweet @PBDN_Hofheinz.

This article originally appeared on Palm Beach Daily News: Breakers-linked entity buys another property on prime Palm Beach street